Risky ROI's & The Juicy APR; How To Sell Scam Effectively.

in LeoFinancelast month

Is there really a real-time investment that would give you close to 50% APR? or how many businesses in the world currently can give you even better ROI than crypto actually does? I don't know much about this.

Nigeria has a hyper-inflated economy plus a very high unemployment rate as well and this is one of the reasons why many are seeking to invest in crypto and others are seeking to invest in schemes that gives them juicy daily ROI. Hundreds of platform have sprung up lately on twitter asking people to invest an amount of money to get an almost unbelievable returns on these money and it's surprising how a lot of people will fall for these schemes but still find it difficult to believe that Crypto is the real deal.

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Common Sense....

Truth is, not everyone needs financial education to decode a scam from far, when sometimes feels too good to be true, this is the actual red flag. I use to say that making legit money isn't easy and if you see a venture that tries to sell legitimate means to you but it kinda feels too unreal, it's rather because it's unreal and probably intend to sell itself to people who would rather see with their greed rather than see with their reasoning.

Secondly, it's not every venture that needs advertising to be adopted, while a lot of ventures needs, many people have sold their properties to gain more from these unreal schemes. Theh come at you everyday, on WhatsApp messages, they pop up on ads and you see fancy looking men with advertising skills aiming to sell you these scams.

Convincing advertising skills is more efficient on financially ignorant people. Another thing is that most centralised traditional social media platforms hardly allows for the education of people in any aspect of Crypto, twitter of course does a bit okay in this aspect, but then how well does Instagram and facebook does this?. A lot of people have been scammed just by using their social media account.

It's not like there isn't scam in crypto. DeFi lately has increased the possibility for scams and many people are falling for this. This of course happens to people who has made ridiculously large amount of money and has gone crazy to have all the DeFi money in the whole DeFi Space.

The alarming rate of unemployment in places like Nigeria has increased internet scams. It's of course only government that has the means to print Money, money needs to have a source, people I have seen lately are too lazy to learn, they want someone who will do all the whole hardwork and give them their ROI on a platter of gold meanwhile these people tap into these weaknesses to actually sell their scam on a daily basis.

Scam is profitable in the Nigerian online space especially if it's packaged well. People are gullible to how money eventually works and because of this, they're always duped on a daily. At the end of the day, proper education on how money works and common sense is what a lol of people actually needs.

Interested in some more of my works?

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My name is @Josediccus, a young Nigerian student who is a Vlogger, A Psychologist, Poet And Sports Writer/Analyst. I'm using my contents as a process to create shared meaning as well as create expressions through which people on/off hive can relate. I believe content is a process to be enjoyed and relished and I'm up for any collaborations in my field stated above. Cheers

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You'll never stop a large portion of the population running after hype and dreams without doing any research. It's been proven forever and the only thing you can do is ride and cash out if you really want to be one of the smart ones. Too many people jump in on the hype and keep thinking the things going to pump FOREVER and never cash out till they get screwed over.

The other factor for some reason people feel their crypto is safe in a DeFi. I don't get this thinking at all and then come out confused and dumbfounded when it rug pulls. It's going to turn into a real serious mess here fast with the road DeFi is currently going down. Instead of a good thing it's going to become a scam infested trash house sadly because people don't look out for themselves and expect someone else to.

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DeFi is of course of the riskiest and well inasmuch as we have a lot of profits from it, we have a lot of DeFi project with CRAZY APR and people pulling in these monies in other to farm and earn these huge monies I guess this is for they get caught. Waiting it out till everything probably rug pulls,
But then like you said we'll never stop a large portion of the population running after hype and dreams without doing any research, sometimes people overate the capabilities of crypto and so they get burned.

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Are scams that common in Nigeria? I know there were a bunch of rumors of people from Nigeria running scams online trying to scam out people overseas all the time.

But yes people need to think things through but I don't think it will change. It will be like how people always chase the FOMO and get smacked down eventually.

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Due to the unemployment, scams are plenty and you have people trying to make the easy money out there. 40 billion naira is what has been scammed off people through the venture in a space of a short time. People are the issues here they need to get this quick money get them scammed

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Your post was promoted by @jfang003

Goodness, thanks a lot, I didn't realise, I'll be looking forward to seeing the LMT of today

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Many people get involved in pyramid schemes because of greediness...the greediness makes them to jump into unrealistic offers...

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Greed is even greedier, especially when it becomes baseless

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I have fallen for scams illegitimate cloud BTC mining in the early days of BTC, I am talking about 2013 here when buying a BTC was no hassle for me, but what did I do with my BTC back then? I invested in several crypto cloud mining that never existed and lost it all.

That has set me back big time and actually ignored crypto around 2015/16. So when it comes to these shiny investments I stay away bro, that lesson have made me appreciate HIVE's get rich slowly approach.

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people tend falls for the scam becasue they only see the huge ROI. a financial education are really needed to prevent people to fall for that scam. but they only need patience and wisdom at least to do research before making an investment on scam

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Not a lot of people want to do any research, it's basically why these scams thrive, it's present currently in defi. Hopefully more people will buy cub as it's authentic and well true.

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